Land Registry data reveals the top residential property purchases of the year.
It’s been a difficult year for the super-prime property market. A number of tax hikes on expensive and investment properties have drastically increased the cost of buying pricier homes, curbing demand.
There were 35 transactions on homes worth over £10m in the first three quarters of 2016, show Land Registry figures.
That compares to 50 over the same period a year before, a 30% drop.
But business was still being done, though it slowed drastically around the EU referendum in June.
From the Land Registry data, here are the five biggest house purchases in 2016.
As you might expect, they are all in London.
But interestingly, all deals were before the 1 April start of the new tax year – four of them in the final days – suggesting the transactions were rushed through to beat a 3% stamp duty rise on second homes.
£30,000,000 — Ashcombe House, 23a Eaton Square, Belgravia (sold: 31/03/2016)
This seven bedroom Grade II* listed Georgian home in prime central London was once owned by Henry Bingham Baring MP, son of the banker Henry Baring. It has four floors and according to the Savills listing when the property was still on the market “a number of impressive features, most notably a very grand first floor reception room complete with an imposing barrelled ceiling.”
£24,850,000 — 16 Avenue Road, St John’s Wood (Sold: 31/03/2016)
This imposing detached home close to Regent’s Park and Primrose Hill has six bedrooms, six bathrooms, and five reception rooms. Though that may soon be about to change – a planning application submitted to Camden council on 4 October by a Ms Lin Zhu has asked for permission to erect “a 2 storey (plus basement and loft), 7 bed dwellinghouse and associated relandscaping following the demolition of existing house.”
£21,000,000 — Apartment 4, 7 Cambridge Gate, Regent’s Park (Sold: 30/03/2016)
Cambridge Gate, built in 1875 in the French Second Empire style, has 19 houses and flats on it, according to Zoopla. The stunning period block overlooks the greenery of Regent’s Park.
£19,500,000 — 63 Hollandgreen Place, Holland Park (Sold: 03/02/2016)
Hollandgreen Place is “a state of the art new development constructed on the site of the former Commonwealth Institute, on the southern edge of Holland Park,” says Rightmove. “It consists of three residential buildings and provides a wealth of facilities including a barriered entrance, 24hr concierge service, secure designated underground parking with lift access to each building, a 20m swimming pool, sauna and steam room, a gymnasium, massage and treatment rooms, private cinema, golf simulator and business suite. It is also conveniently located for a number of excellent shops and transport links on Kensington High Street.”
£18,400,000 — 41 Queen’s Grove, Swiss Cottage (Sold: 24/03/2016)
This large detached family house is near to Primrose Hill in leafy Swiss Cottage.
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